Despite dampened sentiment on the local economy and political uncertainty, businesses in Hong Kong are gearing up to expand and hire more workers in 2015. In addition, strengthened economic ties with Mainland China and demand from the United States create both opportunities and challenges for local businesses, according to the findings from the latest American Express Business Momentum Survey in Hong Kong.

Economic outlook hampered; expansion plan not confidence about economic growth slightly declined from 2013 with 17% of survey senior financial executives expecting economic expansion in the next 12 months, compared to 20% at this time last year. The majority of respondents expect a more modest outlook for growth.

Nonetheless, a third (32%) of senior financial executives are poised to embark on expansion plans to boost growth for their own firms in the next 12 months, up from 23% in 2013.

The American Express Business Momentum Survey polled 103 senior finance executives at companies in Hong Kong with annual revenue from US$20 million to US$151 million between August 4 and September 5 on their views of the economic and business outlook and their plans for spending, investment and cost control.

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